Singapore’s financial and economic stability, coupled with its well-organised and well-governed jurisdiction, are key justifications for setting up family offices here.
The initial intention behind the establishment of a family office is often to institutionalize the management of the family’s financial affairs. Over time, in order to meet the changing needs of the family, the scope of responsibilities of the family office can be expanded to include a range of other services, which can be roughly divided into the following categories
Investment Strategy Asset allocation and management Bench-marking and review
Asset allocation and management
Bench-marking and review
Succession planning Liquidity planning Family governance Family education
Target setting Due diligence Execution Impact assessment
Concierge Integration and accounting Law and tax
Integration and accounting
Law and tax
An SFO manages assets for/on behalf of only one family, is wholly owned/controlled by said family members, with only their assets injected. It offers asset allocation, management, and investment. Fund investments are selected by family members or a professional financial planner. Singapore SFOs may be exempted from the RFMC/LFMC licensing.
MFO serves multiple families, with 3 main sources: (1) SFO transformed to accept other families; (2) Private banks set up for larger customers; (3) Founded by professionals. Like External Asset Management (EAM), Singapore MFOs require RFMC/LFMC fund license.
With government tax exemption incentives for offshore and onshore funds managed by FOs, almost all capital or investment gains are not taxed.
(Note: Employment time includes overseas business trips.)
INTERKEY ADVISORY has deep experience in tax (incl. CRS) and legal regulations and risks in company expansion, immigration, residency, and cross-border wealth planning. We work with licensed partners to provide a seamless, one-stop consultancy solution customised for our clients.
INTERKEY ADVISORY delves into taxation regulations in different countries/regions and leverages tax treaties and financial instruments to help high-net-worth individuals achieve overall tax efficiency.
We carefully advise clients on reliable investment channels (such as fixed income funds, preschool education, new energy, growth corporate bonds, consumer finance, movies, etc.) based on their risk tolerance and preferences, so that our clients have more options to grow their assets.
The Infinite Growth Income Fund (IGIF) is a fixed-income fund launched in Singapore on 1st April 2020. It primarily deploys a private credit strategy. It is a sub-fund under the Nech VCC umbrella fund, which is in turn structured as a Variable Capital Company (VCC). The IGIF is managed by Nech Capital Pte Ltd, a Singapore Registered Fund Management Company (RFMC).
The IGIF is only for Accredited Investors (AIs) or Institutional Investors. Subscription is by invitation only and is exclusive to AIs who have passed the pre-qualification requirements.
To qualify as an AI, you must fulfil any one of the following 3 conditions:
Net personal assets exceeded S$2 million (or its equivalent in a foreign currency) in value. Live in Property contributes a maximum of $1 million.
Income in the preceding 12 months was not less than S$300,000 (or its equivalent in a foreign currency)
Investment/Financial assets (bank deposits, bonds, shares) of at least $1 million or more
Investors in a Class Equivalent to Accredited Investors. An investor in an equivalent class under the laws of the country or territory in which the offer or invitation is made.
Please note that any offers in relation to subscription to shares of IGIF may only be made to qualifying AIs who have completed and executed the Opt-in Form, or otherwise to Institutional Investors.
For more information on the fund strategy being deployed by IGIF and to enquire about the qualification procedures, please contact us.